EIB Backs 190MW Romanian PV Projects with $40 Million Investment
Romania’s renewable energy landscape has received a significant boost with the European Investment Bank (EIB) committing €34 million (approximately US$40 million) to advance the nation’s solar power capacity. This strategic investment will support the construction and operation of three new photovoltaic (PV) plants in southwestern Romania, collectively adding 190 MW of clean energy to the national grid.
This development marks a crucial step in Romania’s transition towards a sustainable energy future, aligning with both national and European Union climate objectives.
Project Snapshot: Powering Southwestern Romania with Romanian PV projects
The three solar projects are strategically located in the Oltenia region, specifically within Olt and Dolj counties. Construction on the sites commenced in early 2026, and the plants are on track to become fully operational by September 2027.
The EIB’s financing is a key component of a larger €121 million investment package. The project is a collaborative financial effort, co-financed by the European Bank for Reconstruction and Development (EBRD) and the Romanian lender Banca Comercială Română (BCR). The solar ventures are majority-owned (65%) by the Norway-based developer Scatec, with the remaining 35% held by Defic Globe.
To ensure long-term financial stability, two of the three plants have successfully secured contracts for difference (CfD) through Romania’s 2024 auction. These contracts provide revenue certainty by covering approximately two-thirds of the plants’ expected output for nearly 15 years.
Terje Pilskog, CEO of Scatec, highlighted the project’s significance, noting that reaching financial close and starting construction confirms the attractiveness of the Romanian market. He emphasized that the country’s CfD framework provides the long-term revenue visibility necessary to attract such major investments.
A Catalyst for National and EU Climate Goals through Romanian PV projects
This 190 MW solar initiative is instrumental in helping Romania achieve its ambitious renewable energy targets. The country aims for renewables to constitute over 38% of its final energy consumption by 2030. This investment directly contributes to this goal while also supporting the broader European Union objective of reaching a 42.5% share of renewables in its energy mix.
The investment comes at a pivotal time, as Romania continues its decarbonization journey. The European Commission has been reviewing the country’s plans to phase out traditional energy sources, making the successful implementation of new solar and wind projects more critical than ever. This EIB-backed project demonstrates tangible progress in replacing lignite-based electricity production with cleaner alternatives.
The momentum in Romania’s renewable sector extends beyond this specific investment. Other major players, such as Greenvolt, are also advancing significant wind, solar, and battery storage projects, indicating a robust and growing market for green energy in the country.
The EIB’s Commitment to a Greener Future with Romanian PV projects
The European Investment Bank’s involvement underscores its role as a key financier of climate action. In 2025 alone, the EIB Group, which includes the European Investment Fund, signed new financing agreements totaling nearly €100 billion. A substantial portion of this funding—almost 60%—was dedicated to projects focused on climate mitigation, adaptation, and environmental sustainability, in line with the Paris Agreement.
By channeling significant capital into projects like the Romanian PV plants, the EIB is not just funding infrastructure; it is actively accelerating the green transition, fostering energy independence, and promoting sustainable economic growth across the European Union.
